Private equity investors Environmental Capital Partners and Emigrant Capital Corp. have sold Jackson, Miss.-based information technology company Intechra Group to Melville, New York-based Arrow Electronics. Financial terms of the deal were not released. Emigrant Capital is the private equity subsidiary of Emigrant Bank. Environmental Capital Partners is based in New York. The two firms invested in Intechra in August 2009.
Environmental Capital Partners LLC (ECP), a New York based private equity firm, and Emigrant Capital Corp. (ECC), the private equity subsidiary of Emigrant Bank, are pleased to announce the sale of all of the assets and operations of Intechra Group, LLC (Intechra) to Arrow Electronics, Inc.
Intechra is a leading information technology asset disposition (ITAD) company that offers comprehensive, proven, end-to-end IT asset disposition services. Intechra is headquartered in Jackson, MS, and has approximately 300 employees. Total sales were approximately $75 million for the most recent fiscal year. With sales offices and processing centers in strategic locations throughout the United States and a global network of partnerships, Intechra provides fully customized ITAD services to many Fortune 1000 customers throughout the world.
“It has been a pleasure to have worked with Intechra’s management team as we have implemented a successful growth strategy to capitalize on the significant investment opportunity in the ITAD industry and, more broadly, on the opportunity to promote environmental sustainability,” commented Robert Egan, a Managing Partner of ECP. “We are confident Intechra will be a substantial contributor to Arrow Electronics’ business in reverse logistics.”
“The realization of our August 2009 investment in Intechra has proven the validity of our investment thesis to provide growth capital for middle-market companies that have strong management teams and solid, scalable businesses,” said William Staudt, Vice Chairman of Emigrant Bank. “We are pleased that the sale of Intechra has resulted in solid returns for our investors.”
About Environmental Capital Partners:
Environmental Capital Partners is a private equity firm focused exclusively on growth and buyout investments of middle-market companies in the environmental industry. ECP typically seeks to invest $5 to $25 million in companies with sales of $20 to $150 million. ECP’s model is to invest in established businesses with strong growth potential that can benefit from financial, operational and strategic resources. For more information, visit the company’s website at www.ecpcapital.com.
About Emigrant Capital Corp.:
Emigrant Capital Corp. is a private equity firm that provides flexible capital solutions to finance acquisitions, fund growth, create liquidity and meet the other financial needs of middle-market businesses and their owners. The firm currently has a portfolio of 16 active investments. In addition to providing the optimal capital structure, it provides a wealth of other resources to help ensure success.